Hepatitis B Treatment Market to Exhibit Significant Opportunity Assessment During the Forecast to 2027
The latest report by Market Research Future (MRFR) states that the global Hepatitis B Treatment market 2020 is slated to acquire a considerable market valuation at a moderate 5.3% CAGR over the review period.
The essential factors contributing to the market growth are the growing geriatric population, increasing the prevalence of viral infection, and increasing sexually transmitted diseases among the population adds to driving the market growth. Increasing the incidence of hepatitis B infections is a significant driver of the market. Less accessibility of antibiotics in the market and the effectiveness of antivirals against hepatitis B infections is anticipated to drive the market over the review period.
The prevalence of hepatitis B is increasing steadily across the globe. Medications and treatment options are exceedingly expensive. These are the major influential factors of the hepatitis B therapeutics market. Inadequate access to treatment and diagnosis of hepatitis B in many resource-constrained settings and increasing prevalence of hepatitis B infections are anticipated to drive the global hepatitis B therapeutics market during the forecast period. Growing awareness and growing affordability are some of the critical factors that will surge the rate of diagnosis before a person having advanced liver disease.
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Competitive Landscape
Key players of the Hepatitis B treatment market include Teva Pharmaceuticals, Aurobindo Pharma Limited, GlaxoSmithKline, Zydus Pharmaceuticals, Par Pharmaceutical, Inc., Apotex Corp., Arbutus Biopharma, Accord Healthcare Inc., Lupin Pharmaceuticals, Inc., Gilead Sciences, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., Arrowhead Pharma, and others.
Segmentation Analysis
The Hepatitis B treatment market is segmented on the basis of type, treatment, and distribution channel.
- By Type, it is segmented into chronic and acute. The chronic segment is expected to gain the major market share till 2024. Development of assays which can detect strains of HBV in tissues, single cells, and serum is expected to drive segment growth.
- By Treatment, it is segmented into surgery (liver transplant), vaccines, immune modulator drugs, and antiviral drugs. Antiviral drugs can command a hefty market share till 2024. Reputed drug manufacturers are investing in the regions of India and China to capitalize on low availability of treatment options. Recently, Mylan has signed an agreement with Gilead for developing drugs for HBV in India.
- By Distribution Channel, it is segmented into online pharmacies and hospital & retail pharmacies.
Regional Analysis
The geographical analysis of the global Hepatitis B Treatment market has been conducted in four major regions, namely North America, the Asia Pacific, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
The Americas leads the global Hepatitis B Treatment market for hepatitis B treatment owing to the increasing bacterial infection, expansion in the clinical practices, and obtainability and access of best remedies for viral infection in this region. Furthermore, high healthcare expenditure within the Americas boosts the regional market.
Following parallel trends, Europe stood second in the global hepatitis B treatment market. Europe is assessed to lead the market owing to the existence of cutting-edge medical facilities, and rising viral infection amid the population contributes to growing the new cases of hepatitis B among the people. The increasing frequencies of hepatitis B in Europe boost market growth.
Asia Pacific is estimated to be the fastest-growing region for the global hepatitis B treatment market in 2017. A rapidly rising medical diagnostic sector, a growing incidence of bacterial infection, and a higher number of patients suffering from HIV infection contributing to the market growth over the review period.
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the Middle East and Africa region accounted for the smallest share in the global hepatitis B treatment market owing to strict government policies, presence of weak economies, lack of awareness, and low healthcare expenditure within the region.
Industry News
Bukwang Pharmaceutical, a South Korean company, has gained the license from Novartis to sell Sebivo, its proprietary Hepatitis B drug. The company has attained distribution rights for liver disease adjuvants and for treating all liver diseases giving it a sizeable foothold in the Hepatitis B treatment market.
